This paper presents the Paretian Watershed and the fundamental theorems of welfare economics. It distinguishes the British approach (à la Kaldor-Hicks) from the American approach (à la Bergson-Samuelson) to new welfare economics. It develops the more recent domains of happiness economics, the...

The paper analyzes economic evaluations by distinguishing evaluative statements from value judgments proper. Building on this basis, it compares four solutions to the value-neutrality problem in economics. After rebutting the strong theses about neutrality (normative economics is illegitimate)...

Economic choices influenced by animalistic instincts in an ethically neutral framework have not only resulted in huge disparity in distribution of income, wealth and standard of living, but, as we now realize, it has also resulted in unprecedented loss to ecology and environment with...

This paper analyses a tax reform, explicitly conceived by policy makers to be climate-friendly, that partly replaces a high vehicle registration tax by road user charging and allows for differentiation of the remaining registration tax by fuel efficiency. A microeconomic framework is proposed to...

This book presents the distributional implications inherent to cost-benefit analysis, shows how distributional value judgements underly traditional efficiency analysis and the treatment of accounting prices, and provides guidelines for estimating the distributional effects of investment...

A beruházások központi támogatásának hatékonysága a versenyképes mezőgazdasági termelés egyik sarkalatos kérdése, de ennek ellenére nem rendelkezik a hatékonyságot számszerűsítő, a szakmai közvélemény által széleskörűen elfogadott eljárással. A beruházási...